From job burnout to unhelpful colleagues, there are umpteen reasons for switching to a new job. Some people also do it for acquiring new skills or getting a promotion. However, the most common reason why most people change jobs is a higher salary.
From job burnout to unhelpful colleagues, there are umpteen reasons for switching to a new job. Some people also do it for acquiring new skills or getting a promotion. However, the most common reason why most people change jobs is a higher salary. But negotiating one’s salary well and with confidence is not everyone’s cup of tea. It requires, among others, knowing the right technique of going about it and having a clear sense of what one really wants.
Here’re some smart ways to successfully negotiate a salary:
1. If you have the spark, cos’ll bend over backwards
The best thing about today’s most successful companies is the fact that they are not bound by pre-defined salary ranges. They are free to offer you the compensation they feel you deserve. The good news here is that you can get a good bargain if you successfully demonstrate the right energy, positive intent and alignment to our vision.
2. Be open to new roles
It is always helpful to be open to new roles, even something you didn’t plan. For instance, “I recently interviewed a candidate for a sales job and figured out that he was a much better fit in performance marketing. Interestingly, the candidate wasn’t even aware that his strengths lay elsewhere. Today, he is one of the best performers in the larger marketing team. Therefore, be prepared to discover your hidden strengths,” says Pratika Khandelwal, Head–Human Resources, Edureka.
3. Negotiate for stock options
This is true especially for more senior roles. Companies love candidates who believe in the vision and see future potential in being part of the growth journey. The best way to exhibit your commitment to their vision is to ask for stock options. As the company grows, you will be one of the beneficiaries of it!
4. Ask for higher variable components
If you are ready to have a percentage of your compensation as performance-based variable pay, it’s a clear signal to the company that you are confident of your abilities to add to the financial health of the company. This is true especially for sales-related jobs where your contribution makes a difference to the company’s fortunes almost in real time.
5. Don’t talk money at every stage
Yes, companies do understand that you need to be fairly compensated for the competency you bring to the table. “But at every stage of the interview, if you constantly keep referring to or asking how much they will pay you, they start doubting your priorities. They want you to love your job and help them with your competency, not be greedy for money,” informs Khandelwal.
6. Be willing to learn, unlearn, make mistakes and learn again
Companies always look for candidates who are passionate about learning new things. Irrespective of how many organizations you have worked at in the past or the experience you come in with, you still have to learn new things.
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7. Be flexible
Till a few years back, most companies used to first create a job title and then look for candidates that fit those titles. “These days, however, things are much more dynamic and most organizations have just a vague idea of what work needs to be done. They try to find a candidate that best fits the job role. Most companies are flexible with their job roles and they expect the same flexibility from you in being able to adjust to new roles,” says Khandelwal.
8. Be prepared for double roles
Gone are the days where organizations had two separate teams of strategists and implementers. These days, most companies simply cannot afford two sets of people. They expect you to be the one that ideates as well as puts those ideas into action.
9. Show practically what you are capable of
Demonstrate your skills on paper (or on a computer screen) and the interviewer will be more impressed than showing your impressive degree. “They are more interested in how you get your hands dirty on a specific skill rather than what theory you have learnt. Give them a good demo and they will be bought,” says Khandelwal.
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10. Be curious
Don’t be embarrassed if you don’t know what the company does. Ask questions and show willingness to know more about the company. Most interviewers love candidates who have questions for them That way, they know you are interested in the company!